Moelis & Co (NYSE:MC) has been assigned an average rating of “Hold” from the eight research firms that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $41.83.
A number of research firms recently commented on MC. ValuEngine upgraded Moelis & Co from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Buckingham Research cut their price objective on Moelis & Co from $44.00 to $39.00 and set a “buy” rating for the company in a research report on Wednesday, October 9th. Zacks Investment Research raised Moelis & Co from a “sell” rating to a “hold” rating and set a $39.00 price objective on the stock in a research note on Friday, November 1st. Finally, Morgan Stanley decreased their target price on Moelis & Co from $41.00 to $39.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 8th.
In related news, insider Jeffrey Raich sold 87,293 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $34.34, for a total value of $2,997,641.62. Following the completion of the sale, the insider now owns 87,293 shares of the company’s stock, valued at $2,997,641.62. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, General Counsel Osamu R. Watanabe sold 15,776 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $35.33, for a total transaction of $557,366.08. Following the completion of the sale, the general counsel now directly owns 32,876 shares of the company’s stock, valued at approximately $1,161,509.08. The disclosure for this sale can be found here. Insiders have sold 107,866 shares of company stock worth $3,728,179 over the last quarter. 19.67% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Massey Quick Simon & CO. LLC acquired a new position in shares of Moelis & Co during the third quarter valued at $41,000. Macquarie Group Ltd. bought a new stake in Moelis & Co during the 2nd quarter worth about $136,000. Bank of Montreal Can acquired a new position in Moelis & Co during the 2nd quarter valued at about $138,000. HM Payson & Co. bought a new position in shares of Moelis & Co in the 2nd quarter valued at about $180,000. Finally, State of Tennessee Treasury Department bought a new position in shares of Moelis & Co in the 3rd quarter valued at about $202,000. Hedge funds and other institutional investors own 73.94% of the company’s stock.
Shares of Moelis & Co stock opened at $33.38 on Friday. Moelis & Co has a 12-month low of $29.56 and a 12-month high of $48.69. The stock has a market capitalization of $1.98 billion, a P/E ratio of 11.13 and a beta of 1.98. The company has a 50-day simple moving average of $33.38 and a 200 day simple moving average of $33.47. The company has a quick ratio of 2.53, a current ratio of 2.53 and a debt-to-equity ratio of 0.15.
Moelis & Co (NYSE:MC) last issued its quarterly earnings data on Wednesday, October 30th. The asset manager reported $0.76 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.19. The firm had revenue of $231.70 million for the quarter, compared to analysts’ expectations of $198.15 million. Moelis & Co had a net margin of 16.14% and a return on equity of 47.82%. The company’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.62 earnings per share. On average, equities analysts anticipate that Moelis & Co will post 2.36 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, November 11th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.99%. The ex-dividend date of this dividend is Thursday, November 7th. Moelis & Co’s dividend payout ratio is presently 66.67%.
About Moelis & Co
Moelis & Company, an investment bank, provides strategic and financial advisory services in the United States and internationally. It advises clients in the areas of mergers and acquisitions, recapitalizations and restructurings, capital markets advisory, and other corporate finance matters. The company offers its services to public multinational corporations, governments, financial sponsors, middle market private companies, and individual entrepreneurs.
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